Silvant Capital Management LLC Purchases Shares of 77,680 Bank of America Corporation $BAC

Silvant Capital Management LLC acquired a new position in Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 77,680 shares of the financial services provider’s stock, valued at approximately $4,426,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. LaSalle St. Investment Advisors LLC acquired a new position in shares of Bank of America in the 2nd quarter valued at about $283,000. Mystic Asset Management Inc. acquired a new stake in Bank of America during the 2nd quarter worth approximately $9,047,000. Advisors Preferred LLC purchased a new position in Bank of America in the second quarter valued at approximately $3,007,000. Fairtree Asset Management Pty Ltd acquired a new position in Bank of America during the second quarter valued at approximately $2,070,000. Finally, Oxford Financial Group LTD. LLC acquired a new position in Bank of America during the second quarter valued at approximately $995,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Higher dividend income reinforces BAC’s appeal: Bank of America has increased its payout again, generating approximately $619 million in annual dividend income for Warren Buffett’s Berkshire Hathaway. The dividend growth supports the stock’s income-investment case and signals confidence in capital generation. Iconic bank stock pays Buffett’s Berkshire $619M in annual dividends
• Positive Sentiment: Preferred-share yields attract income investors: Analysis highlighting Bank of America preferred shares offering yields of roughly 6.6% may improve visibility for the company’s broader capital-return and income-investment story, though preferred securities do not directly increase common-stock earnings. Bank of America Offers Good Alternative To Treasuries
• Neutral Sentiment: Bank of America disclosed new strategic holdings: The company reported crossing a 10% stake in Lakefront Biotherapeutics and raising an indirect stake in Sanifoam above 5% under regulatory transparency rules. These disclosures appear to reflect investment or custody activity and are not expected to materially change BAC’s operating outlook. Bank of America Builds 10% Stake in Lakefront Biotherapeutics
• Neutral Sentiment: Market sentiment remains supportive: Bank of America’s fund-manager survey found rising equity optimism and cash allocations near historic lows. Stronger risk appetite could benefit banking activity and markets, but it also raises the possibility of positioning becoming crowded. Investor bullishness surges as BofA survey shows cash levels near historic lows
• Negative Sentiment: AI could widen consumer credit risks: Bank of America research suggests artificial intelligence is creating financial winners and losers and could eventually affect consumers’ access to credit. If weaker borrowers face increased pressure, the trend could pose longer-term risks to loan growth and credit quality. BofA finds AI is creating a credit divide

Bank of America Trading Up 1.1%

BAC opened at $62.35 on Tuesday. The firm has a market capitalization of $436.03 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.98 and a beta of 1.17. The firm’s 50 day moving average is $60.73 and its 200-day moving average is $54.73. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Analysts expect that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.32 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Barclays lifted their target price on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Finally, UBS Group raised their price objective on Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.08.

Bank of America Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.